Axiomatizations of Neoclassical Concepts for Economies
Oscar Volij () and
Roberto Serrano ()
Staff General Research Papers Archive from Iowa State University, Department of Economics
We characterize the Pareto correspondence, the core and the Walras solution using the axioms of consistency, converse consistency and one-person rationality. Consistency and its converse are defined with respect to suitably constructed reduced economies for each case. Our results hold for the well-known class of coalitional production economies, which covers exchange economies as a particular case. The key reason to use this class is the observation that the reduction of an exchange economy yields a production economy. Author Keywords: Consistency; Reduced economy; Core; Walrasian equilibrium
References: Add references at CitEc
Citations: View citations in EconPapers (21) Track citations by RSS feed
Published in Journal of Mathematical Economics 1998, vol. 30, pp. 87-108
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Journal Article: Axiomatizations of neoclassical concepts for economies (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:5192
Access Statistics for this paper
More papers in Staff General Research Papers Archive from Iowa State University, Department of Economics Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070. Contact information at EDIRC.
Bibliographic data for series maintained by Curtis Balmer ().